Smith Group Asset Management LLC Grows Position in Trane Technologies plc (NYSE:TT)

Smith Group Asset Management LLC grew its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 235.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,580 shares of the company's stock after purchasing an additional 1,810 shares during the period. Smith Group Asset Management LLC's holdings in Trane Technologies were worth $953,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BOCHK Asset Management Ltd bought a new stake in shares of Trane Technologies in the 4th quarter worth approximately $443,000. R Squared Ltd bought a new stake in Trane Technologies in the fourth quarter worth $443,000. Foster Group Inc. boosted its position in Trane Technologies by 1.3% during the fourth quarter. Foster Group Inc. now owns 2,800 shares of the company's stock valued at $1,034,000 after buying an additional 37 shares during the period. SteelPeak Wealth LLC grew its stake in shares of Trane Technologies by 2.0% during the fourth quarter. SteelPeak Wealth LLC now owns 2,189 shares of the company's stock valued at $809,000 after buying an additional 42 shares during the last quarter. Finally, BSW Wealth Partners lifted its stake in shares of Trane Technologies by 10.7% in the 4th quarter. BSW Wealth Partners now owns 702 shares of the company's stock valued at $259,000 after acquiring an additional 68 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on Trane Technologies from $380.00 to $360.00 and set an "underweight" rating on the stock in a research report on Friday. Barclays lifted their target price on shares of Trane Technologies from $440.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Robert W. Baird dropped their price target on shares of Trane Technologies from $408.00 to $404.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price objective on shares of Trane Technologies from $364.00 to $407.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their target price on Trane Technologies from $387.00 to $396.00 and gave the stock a "neutral" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $415.25.

Trane Technologies Stock Down 1.1 %

Trane Technologies stock traded down $3.85 on Friday, hitting $362.47. 1,648,357 shares of the stock traded hands, compared to its average volume of 1,328,193. The business's fifty day simple moving average is $389.53 and its 200 day simple moving average is $376.35. The firm has a market cap of $81.56 billion, a P/E ratio of 33.62, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.57. Trane Technologies plc has a 1 year low of $250.79 and a 1 year high of $422.00.

Trane Technologies (NYSE:TT - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.52 by $0.09. Trane Technologies had a net margin of 12.73% and a return on equity of 34.62%. As a group, sell-side analysts forecast that Trane Technologies plc will post 11.16 earnings per share for the current year.

Insider Activity at Trane Technologies

In other Trane Technologies news, SVP Mairead Magner sold 4,329 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $416.00, for a total transaction of $1,800,864.00. Following the completion of the sale, the senior vice president now directly owns 12,893 shares in the company, valued at approximately $5,363,488. This trade represents a 25.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.